Unit 7: Business Decision Making LA:A key terms

What's the definition of a business plan?

• acquiring and processing information which is undertaken mentally.

• to combine two or more components, such as information.

• an iterative process is one where you come to the desired result by means of a repeated cycle of operations.

• a written document that comprises all areas of a business proposal

Click on the option that best describes an entrepreneur.

• a person who sets up a business, taking a financial risk in the hope of making a profit.

• a business employing up to nine members of staff.

• an authorised business arranged to operate as an agent for another company's products or services

A small group of customers for a specialised item is called a ? market (fill in the blank ?)

'an authorised business arranged to operate as an agent for another company's products or services' is a definition of what?

• a niche market

• a macro business

• a merger

• a franchise

• diversification

alternative products or services which differ from the traditional or routine operations, products and services is known as ?

A micro business employs up to how many staff members?

• 9

• 10

• 15

• 7

A large employer, possibly employing over 250 members of staff is defined as a ? business

Capital investment means ...

• to combine two or more components, such as information.

• funds (money) paid into a business to further its development to meet its goals.

• acquiring and processing information which is undertaken mentally.

Definition/s of 'merger' (more than one is correct)

• a combination of two things, especially into one

• when one or more organisations combine operations and financial arrangements and change ownership

• combine two separate businesses into a single new legal entity.

• when two people fall in love

acquiring and processing information which is undertaken mentally is known as 'cognitive', is that true or false?

• True

• False